Foxconn Technology Group is coming to downtown Milwaukee with plans to buy a seven-story office building — giving it space for potentially hundreds of employees.
Foxconn has agreed to buy the 132,800-square-foot building at 611 E. Wisconsin Ave. from Northwestern Mutual Life Insurance Co. for an undisclosed price, it was announced Monday.
A Foxconn spokeswoman didn't respond to questions about the company's plans — although more information is likely coming Tuesday.
The building will apparently be Foxconn's North American headquarters, one source said. Along with its future Mount Pleasant factories, the company also has a small research operation in Harrisburg, Pa.
"They're obviously going to be widening their footprint in this country," said the source, who asked not to be identified.
Foxconn estimates it will have 870 employees in "business support functions" in southeastern Wisconsin by the end of 2022, according to a Wisconsin Economic Development Corp. analysis.
Such jobs are often in corporate offices and can include such roles as finance, Information technology, human resources and marketing.